Ahmedabad : A-One Steels India Limited (ASIL), a Bengaluru-headquartered integrated steel manufacturer, has announced that its Initial Public Offering (IPO) will open for subscription on Thursday, September 24, 2026, and close on Monday, September 28, 2026. The anchor investor bidding will take place on Wednesday, September 23, 2026.
The company has fixed the IPO price band at ₹385 to ₹405 per equity share, with a face value of ₹10 per share. The IPO is proposed to comprise a fresh issue of equity shares aggregating up to ₹35,500 lakh and an Offer for Sale (OFS) aggregating up to ₹5,000 lakh by the company’s promoters.
At the upper end of the price band, the total offer size will amount to approximately ₹40,500 lakh. The equity shares are proposed to be listed on the BSE and NSE. Investors can bid for a minimum of 37 equity shares and in multiples of 37 thereafter. PL Capital Markets Private Limited and Khambatta Securities Limited are the Book Running Lead Managers to the Offer, while Bigshare Services Private Limited is the Registrar.
IPO Proceeds to Support Debt Reduction
According to the Red Herring Prospectus, ASIL proposes to utilise ₹25,000 lakh from the fresh issue proceeds towards the pre-payment or partial repayment of certain outstanding borrowings availed by the company. The remaining proceeds are proposed to be utilised for general corporate purposes and offer expenses.
Integrated Steel Manufacturing Operations
A-One Steels India operates as a backward and vertically integrated steel manufacturer with a diversified portfolio comprising long and flat steel products and industrial products.
The company and its subsidiaries operate six manufacturing units across Karnataka and Andhra Pradesh, with facilities located at Gauribidanur, Hindupur, Chikkantapur, Bellary and Koppal. The company’s aggregate installed capacity stands at approximately 17,33,100 MTPA.
Its manufacturing facilities cover complementary stages of the steel production process. The Koppal facility manufactures sponge iron, while the Gauribidanur and Hindupur facilities manufacture MS billets and TMT bars. Bellary Facility I manufactures sponge iron, MS billets, HR coils and HR (MS) pipes; Bellary Facility II manufactures galvanized pipes; and the Chikkantapur facility manufactures met coke and ferro alloys.
Focus on Green Steel and Renewable Energy
The company’s TMT bars manufactured at its Gauribidanur and Hindupur facilities have received GreenPro Ecolabel accreditation from the CII – Green Products and Services Council. Its eligible HR coil and HR (MS) pipes manufactured at Bellary Facility I have also received GreenPro certification.
ASIL also received a Green Steel Certificate from the National Institute of Secondary Steel Technology, Mandi Gobindgarh, for producing 1,80,351 tonnes of TMT bars during Fiscal 2026, with an average emission intensity of 0.67 t-CO₂e/tfs.
The company has initiated the compliance process to enable its steel exports to be accepted in the European Union under the Carbon Border Adjustment Mechanism (CBAM).
As of Fiscal 2026, approximately 83.20% of the total power requirement of ASIL’s manufacturing facilities was met through green energy. The company said this enabled it to save approximately ₹1.57 per unit in electricity costs during the fiscal year.
Extensive Sales Network
A-One Steels distributes its products through direct retail sales channels, authorised distributors, institutional customers and other trading channels. As of March 31, 2026, the company’s sales network comprised 1,246 direct retail sales channels, 32 authorised distributors and 57 institutional customers.
The company commenced operations in 2013, beginning with the manufacturing of MS billets at its Gauribidanur facility. Its promoters are Mr. Sandeep Kumar, Mr. Sunil Jallan and Mr. Krishan Kumar Jalan.
Strong Improvement in Financial Performance
ASIL reported ₹4,14,856.74 lakh in revenue from operations in Fiscal 2026, compared with ₹3,54,178.09 lakh in Fiscal 2025. The company’s profit after tax (PAT), after exceptional items, increased to ₹12,740.82 lakh in Fiscal 2026, compared with ₹771.05 lakh in Fiscal 2025.
The IPO will provide investors an opportunity to participate in the company’s proposed listing while the company plans to utilise a significant portion of the fresh issue proceeds towards reducing its outstanding borrowings.